JSW Steel (USA) Inc. achieves Better Plants Challenge Energy Savings Goal

The U.S. Department of Energy (DOE) has recognized JSW Steel USA for achieving its energy savings goal as a partner in the Better Plants Challenge. JSW Steel USA has achieved energy savings of 25% through greater efficiency efforts across its portfolio.

JSW Steel USA is one of the market leaders partnering with DOE to set portfolio-wide energy savings goals and share their efficiency strategies with others. JSW Steel USA is profiled on DOE's Better Buildings, Better Plants Solution Center. To date, Better Buildings partners have saved nearly $22 billion in energy costs, resulting in more than 220 million metric tons of avoided greenhouse gas emissions.

"Congratulations to our 2024 Better Buildings, Better Plants Goal Achievers for reaching their ambitious portfolio-wide goals and sharing their successful solutions with the market," said DOE Principal Deputy Assistant Secretary for Energy Efficiency and Renewable Energy Jeff Marootian. "These industry leaders are demonstrating that decarbonization is not only possible - it's happening now and its good business. We invite organizations to take up the charge and join us to build the clean energy economy of the future."

JSW Steel USA is focused on investing in a sustainable and green future as an opportunity to save energy and improve efficiency across its portfolio.

Continued Investments and Upgrades to Provide Clean Steel and Clean Energy Manufacturing Jobs at JSW Steel USA to support the on/offshore wind market.

JSW USA's $145 million investment in its Mingo Junction facility will enable the company to produce monopile-grade steel slabs that will support monopile pole towers for usage in the offshore wind energy market. This investment will also significantly reduce JSW USA's Baytown facility's reliance on imported steel slabs, which results in higher carbon emissions. JSW USA uses one of the most energy-efficient and lowest carbon-emitting methods of steelmaking in the industry.

"We are passionate about collaborating with each other to build a viable future for our world. The steel market is a competitive landscape, these investments will play a pivotal role in future market demand, addressing deficiencies in the supply chain. JSW USA will be one of only two US suppliers of monopile plate for clean offshore wind power generation. Our investment will enable us to forge relationships with manufacturers and other businesses that rely on these materials," said JSW Steel USA CEO, Rob Simon.

Commenting on the new investments, Mr. Parth Jindal, Director of JSW Steel USA said, "The new investments at our Baytown, Texas facility reinforce JSW USA's commitment to a sustainable and green future. The new upgrades at our Plate Mill support the long term ESG initiative of JSW USA and support decarbonization of the Energy Spectrum in the United States of America. The new investments will enable us to progressively deliver high quality steel products while further defining our niche markets through a Made in America specialty steel portfolio. These investments have the potential to significantly reduce U.S. import reliance in the infrastructure and renewable energy sectors."

The Better Plants Challenge is one component of the Better Buildings Initiative, through which DOE partners with hundreds of public and private sector organizations to make commercial, public, industrial, and residential buildings more efficient, thereby saving energy and money while reducing emissions and strengthening the economy. Discover more than 3,000 proven efficiency solutions from these partners in the Better Buildings Solution Center.

Shares of JSW Steel Limited was last trading in BSE at Rs. 947.15 as compared to the previous close of Rs. 955.60. The total number of shares traded during the day was 23241 in over 1269 trades.

The stock hit an intraday high of Rs. 965.20 and intraday low of 944.00. The net turnover during the day was Rs. 22143549.00.

Source : Equity Bulls

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JSWSteel INE019A01038 JSWSTEELUSA Recognition USDOE EnergySavingsGoal BetterPlantsChallenge